Q2 2024 EPS Estimates for Select Water Solutions, Inc. Lowered by Northland Capmk (NYSE:WTTR)

Select Water Solutions, Inc. (NYSE:WTTR) – Research analysts at Northland Capmk lowered their Q2 2024 EPS estimates for Select Water Solutions in a research report issued to clients and investors on Friday, May 3rd. Northland Capmk analyst B. Brooks now forecasts that the company will post earnings per share of $0.09 for the quarter, down from their previous estimate of $0.12. The consensus estimate for Select Water Solutions’ current full-year earnings is $0.64 per share. Northland Capmk also issued estimates for Select Water Solutions’ Q3 2024 earnings at $0.19 EPS, FY2024 earnings at $0.52 EPS, Q1 2025 earnings at $0.18 EPS, Q2 2025 earnings at $0.22 EPS, Q3 2025 earnings at $0.31 EPS and Q4 2025 earnings at $0.34 EPS.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, April 30th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05). The company had revenue of $366.60 million for the quarter, compared to analyst estimates of $369.29 million. Select Water Solutions had a return on equity of 7.46% and a net margin of 4.28%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share.

Separately, Northland Securities started coverage on Select Water Solutions in a research report on Monday, April 22nd. They set a “market perform” rating and a $11.50 price target on the stock.

Select Water Solutions Trading Up 0.8 %

NYSE:WTTR opened at $9.22 on Monday. The company has a market cap of $1.09 billion, a P/E ratio of 14.18 and a beta of 1.65. Select Water Solutions has a twelve month low of $6.78 and a twelve month high of $9.74. The business has a 50 day moving average price of $9.06 and a two-hundred day moving average price of $8.05. The company has a quick ratio of 1.76, a current ratio of 1.94 and a debt-to-equity ratio of 0.08.

Select Water Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, May 3rd will be paid a $0.06 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.24 annualized dividend and a yield of 2.60%. Select Water Solutions’s dividend payout ratio (DPR) is currently 36.92%.

Insider Buying and Selling

In related news, CAO Brian Szymanski sold 8,080 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.33, for a total transaction of $67,306.40. Following the transaction, the chief accounting officer now directly owns 84,304 shares of the company’s stock, valued at approximately $702,252.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Brian Szymanski sold 8,080 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.33, for a total transaction of $67,306.40. Following the completion of the sale, the chief accounting officer now owns 84,304 shares in the company, valued at approximately $702,252.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Christopher Kile George sold 23,000 shares of Select Water Solutions stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $8.63, for a total transaction of $198,490.00. Following the sale, the senior vice president now directly owns 255,587 shares of the company’s stock, valued at approximately $2,205,715.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,511 shares of company stock worth $398,053. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Several institutional investors and hedge funds have recently made changes to their positions in WTTR. Allspring Global Investments Holdings LLC bought a new stake in Select Water Solutions in the 3rd quarter valued at $28,000. New York State Teachers Retirement System bought a new stake in shares of Select Water Solutions in the fourth quarter valued at about $54,000. Principal Financial Group Inc. acquired a new position in shares of Select Water Solutions in the third quarter valued at about $95,000. Mackenzie Financial Corp bought a new position in Select Water Solutions during the third quarter worth about $100,000. Finally, Clough Capital Partners L P acquired a new stake in Select Water Solutions in the 3rd quarter worth about $112,000. Institutional investors and hedge funds own 81.73% of the company’s stock.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.